My partner and I are refinancing our apartment in Chipping Campden with Clydesdale. We have a son approaching twenty who lives with us. Our solicitor requested us to identify anyone over the age of 17 other than ourselves who lives in the flat. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the apartment is repossessed. I have a couple of questions (1) Is this document specific to the Clydesdale conveyancing panel as he did not need to sign this form when we bought 3 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Clydesdale. This is solely used to protect Clydesdale if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Clydesdale had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
I am told that my conveyancing solicitors will need to check that the building insurance when buying a house in Chipping Campden. My lender is Bank of Ireland
Bank of Ireland have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 4/3/2024, the requirements read as follows :
I have justdiscovered that Action Conveyancing have closed. They conducted my conveyancing in Chipping Campden for a purchase of a leasehold apartment 18 months ago. How can I establish that the property is registered correctly in the name of the former proprietor?
The easiest way to see if the premises is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Chipping Campden conveyancing specialists.
I've recently found out that there is a flying freehold element on a property I have offered on a fortnight ago in what was supposed to be a simple, no chain conveyancing. Chipping Campden is where the house is located. Is there any advice you can impart?
Flying freeholds in Chipping Campden are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Chipping Campden you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Chipping Campden may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
Hoping to buy a property located in Chipping Campden and I am already nervous. I couldn't find anything specific about Chipping Campden. Conveyancing will be needed in due course but do you know about the Chipping Campden area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Chipping Campden. In the meantime here are some basic statistics that we found
Do you have any top tips for leasehold conveyancing in Chipping Campden with the intention of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in Chipping Campden can be avoided where you instruct lawyers the minute your agents start advertising the property and ask them to collate the leasehold documentation which will be required by the buyers’ conveyancers. If there is a history of conflict with your landlord or managing agents it is very important that these are settled prior to the flat being marketed. The purchasers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You may have to bite the bullet and pay any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is clearly preferable to reveal the dispute as over rather than unresolved. You believe that you know the number of years left on your lease but it would be advisable verify this via your lawyers. A buyer’s lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is less than 75 years. In the circumstances it is important at an early stage that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale. The majority of freeholders or managing agents in Chipping Campden levy fees for supplying management packs for a leasehold home. You or your lawyers should enquire as to the actual amount of the charges. The management information sought as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Chipping Campden.
I own a 2 bed flat in Chipping Campden, conveyancing formalities finalised in 2000. Can you please calculate a probable premium for a statutory lease extension? Corresponding properties in Chipping Campden with over 90 years remaining are worth £201,000. The ground rent is £45 per annum. The lease ends on 21st October 2089
With 65 years unexpired the likely cost is going to span between £13,300 and £15,400 as well as legals.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.